Earlier this year it reported it had reduced the deficit to £2.6 billion from £3.9 billion but that number doubled in the past year.

“Tesco is not facing a short-term problem, but a long-term balance sheet problem due to its hefty pension obligation,” Exane financial analyist Andrew Gwynn said.

The ongoing price war and rise in wages is will prove to be further hurdles for Tesco in the coming months. Furthermore the fallout of BHS and Tesco’s public accounting scandal will keep eyes fixed on its figures.